Granite Creek Copper – Upcoming PEA And Phase 2 Drill Program At Carmacks Copper-Gold-Silver Project
Tim Johnson, President and CEO of Granite Creek Copper Ltd (TSX.V:GCX – OTCQB:GCXXF), joins us for a review of the work preparation for the Preliminary Economic Assessment and upcoming 2022 Phase 2 Drill program. We start off by recapping the NI 43-101 Mineral Resource Estimate at the Carmacks copper-gold-silver project in Yukon, Canada. 93% of the resource is now in the measured and indicated category, with only 7% remaining in the inferred category. There was a 43% increase in measured and indicated contained copper, a 24% increase in contained gold, and a 41% increase in contained silver, and molybdenum has been included for the first time in the resource estimate.
We discussed that one of the key takeaways from the last 2 years drilling and understanding of the deposit was that the sulfide results are coming back very promising at depth and in other areas closer to surface, which will change the economics and development plan for the Project. At present the sulfides and oxides contained in the deposit are roughly equal.
Tim also discussed the preliminary exploration plans for the 2022 drill program, to test some of the 20 new regional satellite targets and step-out holes, focused more on true discovery this year, in tandem with continuing to grow the resources. There will be a market update coming that will outline this exploration program in more detail later in Q2.